| | | such drawings. The clearing corporation may be the top-tier | | securities intermediary for the securities pledged, so that it | | would not be practical for the lender to obtain control. Even | | where the clearing corporation holds some types of securities | | through other intermediaries, however, the clearing corporation | | is unlikely to be able to complete the arrangements necessary to | | convey "control" over the securities to be pledged in time to | | complete settlement in a timely manner. However, the term | | "securities intermediary" is defined in Section 8102(a)(14) to | | include clearing corporations. Thus, the perfection rule of | | paragraph (10) [Maine cite paragraph (j)] applies to security | | interests in investment property granted by clearing | | corporations. |
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| | | 7. Beneficial Interests in Trusts. Under former Section 9- | | 302(1)(c), filing was not required to perfect a security interest | | created by an assignment of a beneficial interest in a trust. | | Because beneficial interests in trusts are now used as collateral | | with greater frequency in commercial transactions, under this | | Article filing is required to perfect a security interest in a | | beneficial interest. |
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| | | 8. Assignments for Benefit of Creditors. No filing or other | | action is required to perfect an assignment for the benefit of | | creditors. These assignments are not financing transactions, and | | the debtor ordinarily will not be engaging in further credit | | transactions. |
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| | | §9-1310.__When filing required to perfect security interest or |
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| | | agricultural lien; security interests and agricultural |
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| | | liens to which filing provisions do not apply |
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| | | (1)__Except as otherwise provided in subsection (2) and | | section 9-1312, subsection (2), a financing statement must be | | filed to perfect all security interests and agricultural liens. |
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| | | (2)__The filing of a financing statement is not necessary to | | perfect a security interest: |
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| | | (a)__That is perfected under section 9-1308, subsection (4), | | (5), (6) or (7); |
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| | | (b)__That is perfected under section 9-1309 when it | | attaches; |
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| | | (c)__In property subject to a statute, regulation or treaty | | described in section 9-1311, subsection (1); |
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| | | (d)__In goods in possession of a bailee that is perfected | | under section 9-1312, subsection (4), paragraph (a) or (b); |
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